Many will be moving out of the family home for the first time, or opting to stay where they are in order to keep the costs of third level education down — either way, it’s a new chapter. So, here’s a guide to finance, eating out and making that student loan stretch for as long as possible: Primarily, financial support for higher education tuition fees and living costs comes from government loans and grants/bursaries. To ensure they have applied for everything to which they may be entitled, students should consult the website of the respective student finance body for where they normally live; for students studying in Northern Ireland, it’s Student Finance NI (www.
studentfinanceni.co.uk).
Students must reapply for support each year of their course. And once they’ve graduated from their course, graduates begin to repay any loans when they start earning over a certain amount. It’s worth remembering that grants and bursaries don’t have to be repaid.
Undergraduate tuition fee levels differ across the UK, but support is available to eligible students in England, Wales, and Northern Ireland in the form of a loan. Depending on their country of residence and course, students can apply for loans, grants, and bursaries to help cover day-to-day living costs, including accommodation, food, and transport. The amount and type of support to which a student is entitled may be based, in part, on their household income.
In most cases, this will include their parents’ income. If a change of circumstances reduces a student’s household income during the academic year, they may be entitled to more support and should contact their relevant student finance body. According to www.
gov.uk, Disabled Students’ Allowance can help cover the extra costs a student might incur because of a long-term health condition, mental health condition, physical disability, or learning difficulty. A Childcare Grant is eligible students from England, Wales, and Northern Ireland, as well as Parents’ Learning Allowance for students, which can be used towards the everyday costs of study, such as study materials and travel.
There is also the Adult Dependants’ Grant for eligible students with a partner or another adult who depends on them financially. Meanwhile, students studying certain courses, such as medical, dentistry, healthcare, social work, and teacher training degrees, may be entitled to additional financial support, including bursaries and grants. It’s also worth remembering that most universities will have a student advice/welfare service that can advise on a range of issues including finances, housing, and benefits.
At Queen’s University, there is a student information point located within the QUB Students’ Union in One Elwood, which is a starting point for anyone seeking advice about finance or wellbeing issues. Meanwhile, at Ulster University students can find out about the various services on offer at various campuses via www.ulster.
ac.uk/wellbeing Students concerned about their financial situation should contact their university to learn what additional funding might be available, including hardship funds in England and Wales, discretionary funds in Scotland, and support funds in Northern Ireland. A student bank account is an essential utility; not only will it enable students to manage their money — such as their student loans and take advantage of additional perks.
This may include discounted travel and 0% overdraft rates. There are many factors to consider when choosing a student current account. One bank may be offering some great discounts on certain restaurants for example, or discounted travel, but that’s no good if you don’t like what they serve, or plan to walk to campus.
So make sure that you will make use of the benefits on offer. One important factor is to consider the location of your nearest bank branch. Choosing one close to the student digs, means in-person help with your account.
You may also value a larger interest-free overdraft, which are common with student accounts. Remember though that an overdraft is still debt, and you’ll need to pay it back one day. Part-time or full-time student bank accounts are very similar to a standard current account but are specially designed for those in higher education.
You need to be 18 or over to get an overdraft, but some banks will let you open a student account with them when you are 17. In order to be accepted for an account, you will need to show the bank: your UCAS confirmation letter, with an unconditional offer, proof of address and ID such as a passport. If your offer is conditional then you will need to supply the bank with a letter from your university confirming your place or your A-level results.
Opening your account can take place once you have provided the bank with all the information it requires and you have gone through credit scoring checks. Once you have graduated, most banks will automatically turn your student account into a graduate bank account. This will offer a way of repaying your overdraft over a set period.
Whenever you buy anything in a shop, or pay for food or drink, ask if there is a student discount. If you don’t ask, you don’t get! When buying something online, always Google the name of the shop plus “student discount”. If you’re studying in Belfast, then it’s worth taking a look if local venues offer student deals.
Filthy McNasty’s, Dublin Road, gives students 20% off on Monday, Tuesday and Thursdays when valid student ID is presented (terms and conditions apply). But many drinks venues have deals, so keep a close eye on social media. Some retailers just require you to show them a student ID card to get a student discount.
This applies in particular to small businesses. However, many larger businesses require you to have an account with a special student discount website. Victoria Square has a round down of which stores offer discounts via victoriasquare.
com/studentoffers. Online, there are several student discount sites and to sign up to them, you generally just need to verify your student email address (this will end in something like ac.uk).
. Here you can access offers such as up to 60% off Asos, exclusive meal bundles at Greggs or KFC, and free delivery when using Just Eat. Another student discount website which offers perks such as half-price merch at Adidas.
You can also bag free Bluetooth headphones with Samsung when you buy one of its eligible products. Formally known as NUS Extra, Totum gives you access to discounts such as 10% off at Co-op supermarkets, as well as 20% off at Schuh. The services above often feature temporary discounts and perks, so it’s worth bookmarking them on your phone and laptop and checking back regularly.
You don’t want to miss a scorcher of a deal. up to 10% off when you buy a Mac or iPad, plus a voucher worth up to £120. With most lecture theatres across the UK and beyond full of that famous logo, if you’re buying a Mac for uni, it may be worth taking advantage of the tech giant’s annual education offer.
Currently, you can get up to 10% off when you buy a Mac or iPad from Apple’s special Education Pricing store. You’ll also need to verify your student status with Unidays. You can also get voucher worth up to £120 which you can use anywhere in the Apple store.
It won’t have an expiry date. For example, you can purchase a 13-inch Macbook Air for just £899 with the student discount, plus receive a £120 Apple voucher. Get six months of free Amazon Prime, then pay just £4.
49 a month after. In addition to free next-day delivery on the online retailer’s vast library of items, you’ll also get access to Amazon Prime Video and Amazon Music Unlimited, making this a cracking deal for students. Get 10% off at supermarket and high street stores, including Co-op Food and Boots.
Having access to the right schemes — many of which are outlined above — is essential for getting as much money off as possible when you’re shopping with everyday high street retailers. You’ll need to sign up for a free Boots Advantage Card, then head into a local branch to verify your student status. Get various discounts off a range of supermarkets with a Student Beans membership.
Refreshing your wardrobe need not cost the earth thanks to retailers looking out for their student customers. Here are some of the top offers available with major online retailers: 10% off at ASOS. The online clothes retailer is renowned for its frequent sales on popular student brands, and you can bag this discount by verifying your student status online.
30% off at Boohoo via StudentBeans. It’s worth noting this excludes sale items. You can also currently get 50% off at Boohoo Man.
20% off at Size via StudentBeans. If you’re in the market for a new pair of trainers, this is likely to be the best way to cut costs. 20% off at H&M via UniDays, online and in-store.
20% off at Levi’s via UniDays, online and in-store. 10% off at Urban Outfitters via UniDays, online and in-store. The starting point is what’s available on campus: don’t forget that your university will give you free access to massive online libraries of academic journals, and these are well worth taking advantage of.
If you search for book titles on Google Scholar, there are almost always a few chapters available to preview. It’s a gamble, of course, but 50% of the time you’ll end up with the pages you need (and we just love it when that happens). For even more freebie reading, you can get your virtual mitts on books at Open Library, Project Gutenberg or Google Books.
These are all great when skimming texts on tablets or laptops. If you sign up to Amazon Prime (you’ll get six months free as a student) you’ll get unlimited access to Prime Reading, with thousands of books to choose from. Book swap sites have libraries of hundreds of thousands of books (and collections are constantly changing) and often include sections just for academic books.
Make yourself a profile, post some titles of books you’re willing to trade and get hunting for those texts from your reading list. Some popular sites include BookMooch and BookCrossing, and of course search out second hand book shops, particular ones near your campus..
